Madaen al-Nour signs Jordanian housing deal

08 September 2008
The Jordanian-based Madaen al-Nour for Investments and Real Estate Development has formed a partnership with the Jordanian Housing and Urban Development Corporation for the construction of new housing units.

Under the deal, the two groups have agreed to construct 2,148 housing units in Zarqa, northeast of the capital Amman. The agreement is worth JD68.5m ($98m).

The units will be constructed as part of the 'A decent home for a decent living’ national housing initiative, launched by a royal decree.

Madaen al-Zour for Investments and Real Estate Development is a subsidiary and real estate development arm of the Salam International Transport & Trading company, also Jordan-based.

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